Policy and real applications are very important to the Principles of Microeconomics course and knowing this, Hall and Lieberman have made their comprehensive, cutting edge text as current as today's headlines. MICROECONOMICS: PRINCIPLES AND APPLICATIONS, 3e, 2006 Update gives students a real-world, up-to-the-minute overview that presents economics as a unified discipline. Taking a no-nonsense approach to economic theory and application, the Update is very accessible, equipping readers with a solid foundation in economics that they can build upon wherever their career paths may lead. The authors' modern approach to theory is captivating and appeals to a broad range of teaching styles and philosophies. This proven author team focuses on core theoretical ideas and presents a systematic application of theoretical tools to real-world domestic and global issues, teaching students how to use analytical processes to develop and sharpen their own economic analysis skills. In addition, the book's innovative Aplia homework management solution provides the most integrated text and homework management system available.
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Table of Contents
PART I. PRELIMINARIES. 1. What Is Economics? 2. Scarcity, Choice, and Economic Systems. 3. Supply and Demand. 4. Working with Supply and Demand. PART II. MICROECONOMIC DECISION MAKERS. 5. Consumer Choice. 6. Production and Cost. 7. How Firms Make Decisions: Profit Maximization. PART III. PRODUCT MARKETS. 8. Perfect Competition. 9. Monopoly. 10. Monopolistic Competition and Oligopoly. PART IV. LABOR, CAPITAL, AND FINANCIAL MARKETS. 11. The Labor Market. 12. Economic Inequality. 13. Capital and Financial Markets. PART V. EFFICIENCY, GOVERNMENT, AND THE GLOBAL ECONOMY. 14. Economic Efficiency and the Role of Government. 15. Comparative Advantage and the Gains from International Trade. USING ALL THE THEORY: The Microeconomics of Domestic Security.